FESD.DE vs. SNAZ.DE
FESD.DE (Fidelity Sustainable USD EM Bond UCITS ETF) and SNAZ.DE (iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc)) are both Emerging Markets Bonds funds - FESD.DE tracks the Fidelity Sustainable USD EM Bond while SNAZ.DE tracks the J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged). Both are passively managed. Over the past 5 years, FESD.DE returned 1.92%/yr vs -0.19%/yr for SNAZ.DE. At a 0.24 correlation, their price movements are largely independent. FESD.DE charges 0.45%/yr vs 0.53%/yr for SNAZ.DE.
Performance
FESD.DE vs. SNAZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, FESD.DE achieves a 5.96% return, which is significantly higher than SNAZ.DE's 0.59% return.
FESD.DE
- 1D
- 0.00%
- 1M
- 0.56%
- 6M
- 5.20%
- YTD
- 5.96%
- 1Y
- 12.79%
- 3Y*
- 7.38%
- 5Y*
- 1.92%
- 10Y*
- —
SNAZ.DE
- 1D
- 0.20%
- 1M
- 0.00%
- 6M
- 0.39%
- YTD
- 0.59%
- 1Y
- 3.85%
- 3Y*
- 4.86%
- 5Y*
- -0.19%
- 10Y*
- —
FESD.DE vs. SNAZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FESD.DE Fidelity Sustainable USD EM Bond UCITS ETF | 5.96% | 0.93% | 9.23% | 5.14% | -13.10% | -8.73% |
SNAZ.DE iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) | 0.59% | 6.26% | 4.36% | 5.28% | -14.17% | 0.20% |
Correlation
The correlation between FESD.DE and SNAZ.DE is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Mar 25, 2021 | 0.25 |
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Return for Risk
FESD.DE vs. SNAZ.DE — Risk / Return Rank
FESD.DE
SNAZ.DE
FESD.DE vs. SNAZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable USD EM Bond UCITS ETF (FESD.DE) and iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) (SNAZ.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FESD.DE | SNAZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.78 | ||
| Sortino ratioReturn per unit of downside risk | +1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.22 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | 1.32 | +2.14 |
| Martin ratioReturn relative to average drawdown | 9.36 | 4.83 | +4.54 |
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Drawdowns
FESD.DE vs. SNAZ.DE - Drawdown Comparison
The maximum FESD.DE drawdown since its inception was -22.67%, roughly equal to the maximum SNAZ.DE drawdown of -21.88%. Use the drawdown chart below to compare losses from any high point for FESD.DE and SNAZ.DE.
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Drawdown Indicators
| FESD.DE | SNAZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.67% | -21.88% | -0.79% |
Max Drawdown (1Y)Largest decline over 1 year | -3.71% | -2.91% | -0.80% |
Max Drawdown (3Y)Largest decline over 3 years | -12.34% | -3.82% | -8.52% |
Max Drawdown (5Y)Largest decline over 5 years | -15.86% | -21.88% | +6.02% |
Current DrawdownCurrent decline from peak | -2.58% | -1.73% | -0.85% |
Average DrawdownAverage peak-to-trough decline | -13.92% | -7.61% | -6.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.37% | 0.80% | +0.57% |
Volatility
FESD.DE vs. SNAZ.DE - Volatility Comparison
Fidelity Sustainable USD EM Bond UCITS ETF (FESD.DE) has a higher volatility of 1.54% compared to iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) (SNAZ.DE) at 0.98%. This indicates that FESD.DE's price experiences larger fluctuations and is considered to be riskier than SNAZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FESD.DE | SNAZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 0.98% | +0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 4.93% | 2.77% | +2.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.75% | 3.40% | +3.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.74% | 5.06% | +3.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.61% | 7.63% | +2.98% |
FESD.DE vs. SNAZ.DE - Expense Ratio Comparison
FESD.DE has a 0.45% expense ratio, which is lower than SNAZ.DE's 0.53% expense ratio.
Dividends
FESD.DE vs. SNAZ.DE - Dividend Comparison
FESD.DE's dividend yield for the trailing twelve months is around 7.70%, while SNAZ.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FESD.DE Fidelity Sustainable USD EM Bond UCITS ETF | 7.70% | 6.61% | 6.31% | 5.87% | 5.06% | 2.34% |
SNAZ.DE iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FESD.DE and SNAZ.DE have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FESD.DE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FESD.DE is cheaper with a 0.45% expense ratio, compared with 0.53% for SNAZ.DE.
FESD.DE tracks Fidelity Sustainable USD EM Bond, while SNAZ.DE tracks J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged). They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.45% for FESD.DE and 0.53% for SNAZ.DE.
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